Property Description

Huge 650k Price Reduction! 14 existing Renovated units + plans for 20 new units cash flowing at an amazing current Cap Rate of 7.25% from day 1. Attractive 2.6M assumable loan at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 11.3% cash-on-cash return. Preliminary plans to add 20 new units to achieve an unheard of 13.9% Cap Rate, 5.7 GRM, and only 149k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units in the front for a total of 20 new units. The 14 existing units have undergone many capital improvements including updated roof, electrical, plumbing, windows, interiors, exteriors, etc.

ESSENTIAL INFO

• Status: Active